"AST1CAL3 EQUATION VARIABLE |N 7 0N|","03-20-1993","22:27:50"
"NXP1DX=((98-AGE)/12*((1+EFFRATE%/100)^-(AGE+1)*EXP(-6.591E-12*(AGE+1)^6)+4*((1+EFFRATE%/100)^-(AGE+1+(98-AGE)/4)*EXP(-6.591E-12*(AGE+1+(98-AGE)/4)^6))+2*((1+EFFRATE%/100)^-(AGE+1+(98-AGE)/2)*EXP(-6.591E-12*(AGE+1+(98-AGE)/2)^6))+4*((1+EFFRATE%/100)^-(AGE+1+3*(98-AGE)/4)*EXP(-6.591E-12*(AGE+1+3*(98-AGE)/4)^6))+(1+EFFRATE%/100)^-(99)*EXP(-6.591E-12*(99)^6)))/((1+EFFRATE%/100)^-AGE*EXP(-6.591E-12*AGE^6)) NETSINGP=RND(PAYMNT$*NXP1DX)"
"ORDINARY WHOLE LIFE ANNUITY. A life annuity that is to continueso long as the individual (annuitant) is alive is called a whole life annuity.  When payments PAYMNT$ are to be made to an individual now AGE years old at the  end of the year, the annuity is called ORDINARY whole life annuity or WHOLE LIFEANNUITY IMMEDIATE. EFFRATE% is the effective, or annual, interest rate.         NXP1DX is the ratio of N(x+1) to D(x) and is derived from the 1941 CSO          Mortality Table. NETSINGP is the net single premium or present value.                                                                                           *** Answers to problems ***    (c) Copyright PCSCC Inc., 1993                   (a) Set AGE=30, EFFRATE%=7, and PAYMNT$=10,000. The net single premium for this ordinary whole life annuity is $122,470.8.                                                                    Type any key to exit.                                                                                                                            ||(a) Find the net single premium NETSINGP for an ordinary whole life annuity of $10,000 per year for an individual now aged 30 if money is worth7% effective.                                                                            Type comma key to see answers.  Type (F2) to return to helpfile."
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